Tax deductions are not "subsidies" Megan. It is keeping more of your own money rather than sending it (with an IRS gun at your head) to Washington.
Posted on 11/27/2017 7:32:43 AM PST by jmaroneps37
The list of Republicans who voted NO on the Tax bill makes a very clear statement about the future of their party in the Blue States. They are a dozen or so poor souls clinging to the old politics way of doing things. Knowing he had the votes to pass a tax bill that would destroy the states these people come from, Speaker Paul Ryan gave them permission to vote NO.
In old pre-Trump politics this would shield them from effective attacks and save their jobs; but those days are over.
The bill contains the greatest attack by a majority party on the minority party in at least 80 years. It will end the SALT “State and Local Tax” deduction from federal income tax returns.
This will mean those who live in what the media and Democrats derisively call “Flyover Country” will no longer be forced to subsidize the Democrats purchase of votes using their tax money.
New York Governor Andrew Cuomo has called the SALT elimination a “DISASTER” for his state. Do we need more to convince us SALT is a great start for dismantling the Democrats shake down system of squeezing all Americans to pay for their vote buying schemes?
As time goes by – and make no mistake it won’t be a long time – middle class MAKERS will abandon the 10 or so states owned and controlled by Democrats because the “make up taxes” (see things like soda tax) will be just too much to carry.
When this happens more TAKERS will arrive as they will be squeezed out of the other 40 states by things like workfare, food stamp cuts and threats of deportation.
The unavoidable result of these factors will be that Democrats will be sealed into 10 states that look like Hawaii. They will no longer be able to offer a threat to Republican power on the national stage.
In 2018 the Democrats will take back most if not all of the few Republican seats in these states and “seem” to be gaining strength; but it will be an illusion. The 2020 census redistricting will draw away congressional districts lost by the hollowing out Blue States and give them to Red States. Lost seats will be made up enough to maintain a working majority for the Republicans.
Enforcement of voter identification laws will lead to discouraged and financially destroyed Democrats quitting politics.
Deportation and voter ID enforcement will make Blacks the Democrats’ only reliable minority group.
This will result in Democrats being forced to support things like Reparations and a separate Black nation to bow to the radical leftists in the Black Congressional Caucus. It will be calamitous for the Democrats.
As taxes rise in Blue States to provide Democrats with the money to buy votes, industries like Wall Street and Department store shopping that do not need a brick and mortar location will find it much cheaper to move to a Red State.
When they awake to these factors Senate Republicans will pass the tax bill. They will come to realize that their hatred of Donald Trump pales before the opportunity for lifetime job security his tax plan presents to them.
Yes, I pay a lot in local, property, and state tax. And yes, I am outnumbered.
But let's not pretend that this massive tax increase that is coming on millions of middle class taxpayers isn't what it is - a Tax Increase.
Do you see what the GOPe did? They picked "winners" and "losers." It isn't an across the board tax cut. They are giving over 80% of the cuts to corporations, the rest to some businesses, and about 9% of the cuts to individuals.
We are told that corporations will "re-invest" and make life better. Will there be some economic growth. Sure.
Will millions of middle class families suffer and pay the bill? Yup.
It isn't only SALT deductions. Do you understand this?
It is almost ALL deductions we have: medical expenses, alimony, adoptions (House bill), graduate student stipends, student loans, education benefits due to parental employment, loans on RVs/boats/second homes, mortgage interest......and I could go on and on.
Because they made this "revenue neutral" - someone has to be soaked and pick up the tab.
And that is the middle class.
And the middle class "cuts" are not even permanent! The corporate cuts are. Further, after a few years, millions more will see their taxes go up even more.
The lemmings don't get this.
They won't wake up until it is too late.
Once these deductions are gone - they are gone FOREVER! They are never, ever coming back.
- the standard deduction is being raised, but the personal exemptions are being eliminated.....completely. Do that math. If you have a large family...well.....you're going to get screwed. And by eliminating the personal exemption, it isn't a "doubling" of the standard deduction anymore. Far from it.
You should also read this:
The Moment Gary Cohn Realized His Entire Economic Policy Is A Disaster
Many companies are not going to "re-invest" and hike everyone's wages and benefit once they get their massive tax cut from 35% to 20%. Nope. A Freeper here who has been a business consultant for years posted his experience. They will buy back their own stock, and line their own pockets. That Zerohedge article confirms it.
If it were up to me I’d eliminate EVERY deduction and EVERY subsidy.
Then I’d put out an Amendment to repeal the income tax.
And that’s the real problem.
“Do that math. If you have a large family...well.....you’re going to get screwed.”
I have a large family and don’t care. Five of our seven children don’t have SSN’s and we can’t take them as deductions anyway. We don’t want to.
Tax deductions are not "subsidies" Megan. It is keeping more of your own money rather than sending it (with an IRS gun at your head) to Washington.
“Many companies are not going to “re-invest” and hike everyone’s wages and benefit once they get their massive tax cut from 35% to 20%...They will buy back their own stock, and line their own pockets.”
You sure you’re not a liberal? Because what business is it of yours what other people do with their money? And earlier in this topic you said that a deduction allows you to keep “your” money so doesn’t a tax cut allow a company to keep >their< money?
And if it’s their money they get to decide what to do with it just like you do with yours, right?
Then what do you care what they do with it? Frankly, if they buy back their stock then they’re redeeming a form of outstanding debt and that’s a very responsible thing to do for the long term health of their company.
If you owned a company you’d be wise to do the same.
I’d repeal the income tax and let you keep it all.
Guess that makes me a commie bastard.
No, calling tax deductions "subsidies" makes you a commie bastard.
Congratulations though. You have bought into the Mnuchin Goldman Sachs Propaganda Machine.
I cannot believe how some people still think that eliminating the personal exemption is a good idea. Whew. I am in the Twighlight Zone here.
A tax deduction is a subsidy. It may be indirect but it is still a subsidy.
The mortgage interest deduction indirectly subsidizes the real estate and mortgage industry and they’ll howl louder than you do if anyone threatens to get rid of it.
Yet that deduction causes damage to the market by facilitating higher real estate prices and, where it applies, higher real estate taxes on those higher priced properties.
That deduction subsidizes higher real estate prices. Remove it and home prices will drop.
Government backed student loans are an indirect subsidy to the education establishment and they are directly responsible for higher costs in education and higher amounts of debt among people my age. It works out great for the educrats and the banksters but not so much for the younger people - many of whom would be better off learning a trade than getting a degree in womyn’s studies or some such.
Sorry that we disagree on this so much but that’s just how it is. I’m sorry that removing the deduction might cause you some pain but it’s still the right thing to do in order to get to the greater good of lowering state and Federal taxes entirely.
I was told yesterday my dependent exemptions were bad because “not everyone” is able to use them.
That was a new one to me.
This place sure has changed hasn’t it?
You are not in the Twilight Zone. You live in a state that rapes you.
“No, calling tax deductions “subsidies” makes you a commie bastard.”
Democrats and Social Justice Warriors everywhere also have a euphemism for spending.
They call it “investment”.
Now, Republicans and Social Justice Warriors everywhere have a euphemism for tax deductions: Subsidies.
Two peas in a pod...and the Social Justice Warriors cheer them both, following like lemmings. Because they do not think.
They emote. Nary a brain cell devoted to the realization that “subsidies” are letting people keep their own damn money. That they earned with their life energy.
Republicans used to think that way. But now Republicans are stupid Social Justice Warriors.
Just like Democrats.
So your state could raise your tax to 30% and your just fine with it because it is just a write off.
Got it.
Maybe it is time for people in these lib holes to stand up.
And a treacherous, lying, two faced, double crossing Federal GOPe that is about to rape me, and millions of others.
The Fed should have no involvement in State taxation whatsoever.
“So your state could raise your tax to 30% and your just fine with it because it is just a write off.”
That’s absurd.
All of it comes out of my pocket directly.
The fact that the Feds don’t tax me on money I pay in taxes is a good thing. And it used to be recognized as a good things by all conservatives, universally.
It sure has.
- Tax Deductions are "Subsidies"
- Wanting to pay less taxes is "Unpatriotic"
- Spending is "Investment"
Is this the new theme song of the GOPe and their lemmings?
Oh, but it's OK for the Fed to allow corporations to deduct their state, local, and property taxes? Huh? It's OK for corporations to keep other deductions that are being taken away from the rest of us? That is in the bill.
Hypocrite.
By that you mean vast stretches of the United States of America, and millions of its citizens.
Sorry, but if you are a "conservative" and "patriot", we are sunk as a nation.
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